Form 4: Data Storage Corp Director Sells Shares to Cover Tax Obligations
SEC Form 4
Harold J. Schwartz, a director, 10% owner, and President of Data Storage Corp, sold shares to cover tax withholding obligations after restricted stock units vested.
Summary
- On April 10, 2025, Harold J. Schwartz, a director, 10% owner, and President of Data Storage Corp, executed transactions involving the company's common stock.
- Schwartz converted 8,333 restricted stock units (RSUs) into common stock.
- He then sold 2,333 shares at a price of $3.25 per share to satisfy tax withholding obligations.
- Following these transactions, Schwartz directly owns 869,847 shares of Data Storage Corp.
- He also holds 8,334 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions related to stock options and tax obligations.
Industry Context
Insider trading activity is always closely watched by investors. This Form 4 filing provides transparency into the transactions of a key executive at Data Storage Corp.
Stakeholder Impact
- The sale of shares by a director could be perceived negatively by some shareholders, although it is explicitly stated that the sale was to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/10/2023 | Date of RSU grant to the Reporting Person. |
| 04/10/2024 | First vesting date of the RSU grant. |
| 04/10/2025 | Date of transaction: RSU conversion and stock sale; second vesting date of the RSU grant. |
| 04/10/2026 | Third vesting date of the RSU grant. |
| 04/14/2025 | Date of Form 4 filing. |
Keywords
Data Storage Corp, DTST, Harold J. Schwartz, Form 4, insider trading, restricted stock units, RSU, tax withholding, common stock, director, 10% owner, President
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.